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A man pays $160 a year for a life insurance policy with a coverage of $145,000 payable to his survivor upon his death. The probability that he will live through the year is 0.9992.
a. Supply the probability table for this problem. (In this case the outcomes X are the possible payouts (positive or negative) the man might receive.
Are you for or against free trade Are you for or against NAFTA What is the economic basis for trade Explain the underlying facts that support free trade and give an example of a good that you purchased recently that is based on resource difference..
Explain the role culture may play in influencing entrepreneurship both at the individual and social level. Define culture in your response.
Assume that you were ready to buy a custom tailored dress (or men’s suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100. When you arrive at the tailor shop, ..
What is the present value for the following cases? A series of 9 monthly payments starting at $400 in the first month increasing by $100 every month with an interest rate of 6% compounded monthly. A series of 11 monthly payments starting at $200 in t..
Charles has decided to open a lawn-mowing company. To do so, he purchases mowing equipment for $5,000, buys gasoline ($2.30 in gas is required to mow each yard), and pays a helper $10.00 per yard. Prior to opening the lawn company, Charles earned $8,..
q.1. an investor buys a property for 1 million with 40 of the purchase price attributable to the land and the balance
Illustrate how do these two relate to each other in the Circular Flow Economy and to the Government and Foreign Sector components? How does all this fit on a Wheel of Income.
A license to sell another's products or to use another's name in business is called a
Assume that a consumer has the utility function U(x,y) = 3x+y, where x and y represent the quantities of two goods, X and Y. The consumer has I=$60 to spend on the two goods, and good Y costs py=$2 per unit. The price of good x, px, is also exogenous..
Discuss various cultural models in terms of immigration, such as assimilation, pluralism, and multiculturalism. What model is used today? Discuss the assimilation, pluralism, and multiculturalism models, and include their historical timelines.
Martha has the utility function U(x, y) = min {4x,2y}. Write down her demand for x and y as functions of the variables m, px, and py, where m is income, px is the price of x, and py is the price of y.
Eddies precision shop is insured for $700,000. The present yearly insurance premium is $1.00 per $100 of coverage. A sprinkler system with an estimated life of 20 years and no salvage value can be installed for $20,000. Eddie uses a MARR of 15 perce..
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